Date: 2015-08-19
Type of information: Series A financing round
Company: Orbus Therapeutics (USA - CA)
Investors: Longitude Capital (USA - CA) H.I.G. BioVentures (USA) Adams Street Partners (USA) Dr. Ernest Mario
Amount: $32.5 million
Funding type: series A financing round
Planned used: The funding will enable Orbus Therapeutics to conduct a Phase 3 clinical trial evaluating its therapeutic product candidate, eflornithine. In controlled, randomized and single arm clinical studies, eflornithine has shown an increase in overall survival of patients with newly diagnosed or recurrent anaplastic astrocytoma. In these clinical trials, the primary and reversible side effects seen from eflornithine therapy in a small percentage of patients were diarrhea and hearing loss. None of the patients discontinued therapy due to side effects. Orbus Therapeutics received Breakthrough Therapy Designation for eflornithine from the FDA in 2014.
Others: * On August 19, 2015, Orbus Therapeutics announced the completion of a $32.5 million Series A financing. The Series A financing was led by Longitude Capital, H.I.G. BioVentures and Adams Street Partners. Dr. Ernest Mario also participated in the financing and has accepted the position of Chairman of the Board. Dr. Mario is currently Chairman of Capnia, Inc. and Chimerix and was formerly Deputy Chairman of Glaxo Holdings plc, and Chairman and CEO of ALZA Corporation.
Therapeutic area: Cancer - Oncology - Rare diseases
